Petrol Price Monitoring Highlights Need For Tax Reform
The latest national petrol price monitoring conducted by FuelTrac and released by the Australian Automobile Association today shows a fall in petrol prices in all capitals except Melbourne during August.
Prices in Sydney fell by 1.1 cents; Brisbane down 0.7 cents; Adelaide down 2.3 cents; Perth down 0.6 cents, Hobart down 2.4 cents; and Canberra down 3.1 cents. In contrast Melbourne prices rose 3 cents and Darwin by 0.3 cents.
Prices fell in virtually all country centres, reflecting lower world oil prices and reduced demand during the month.
The Executive Director of the Australian Automobile Association, Lauchlan McIntosh, said the lower prices in August, while welcome, has not continued into September.
"Most centres have seen steady increases with the increase in the cost of refined petrol out of Singapore. There have been some rapid increases in some centres since the terrorist action in America, but this has not been consistent across the country. Sydney prices rose while Melbourne prices fell," Mr. McIntosh said.
"I note comments by the Treasurer that prices may remain higher as a result of international events. If this is the case it only re-enforces the urgent need for reform of the fuel tax system. Tax in total is still more than 50% of the cost of petrol in most cases.
"AAA, together with the State and Territory Motoring Clubs, is currently preparing a detailed submission to put to the Federal Fuel Tax Inquiry. To assist us, we have engaged a number of highly respected economic and transport consultants," Mr. McIntosh said.
Editors, please note the consultants include –
- Andy Stoekel, PhD (Duke University), Executive Director, Centre for International Economics (CIE)
- Chris Murphy, BEc (Hons Sydney) MEc (ANU), Director, Econtech Pty Ltd – Economic Modellers
- Dr. John Cox B.E. (Hons) M.E. (Adelaide), Transport Engineer, Transport & Infrastructure Investment & Performance
- Margaret Starrs, MM Starrs Pty Ltd, Transport Economist, Road Charging & Funding